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Saudi Arabia and Russia are in a tight race to become China’s top oil supplier in 2020, with both countries boosting crude exports to the economic powerhouse even as the coronavirus pandemic hit global demand for oil this year.
Saudi Arabia, which was China’s top supplier last year, has exported between 1.6 million and 1.7 million barrels per day (bpd) of crude from January to November 2020, as deep price cuts gave Saudi oil exports a boost this month, according to analytics firms Refinitiv, Vortexa and Kpler.
It was catching up with Russia which has exported about 1.7 million bpd of oil to China so far in 2020, with Iraq at a third place with about 1.2 million bpd.
The oil industry has been hard hit this year as the coronavirus pandemic hurt business activity and ground the travel industry to a virtual halt.
